Legal Question in Business Law in Texas
Terminate an investor
I have a brother who was an investor of our company and has decided to leave and leave the state. He says he wants his money back, but I've explained that the investment was a risk. Can I fire him? or what can I do to get him out of the company books? I don't want to give his money back, that would be ridiculous. I just want to rid myself of any backlash as he threaten possible suing but I know that won't work. Please advise.
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Asked on 12/19/05, 10:35 pm
1 Answer from Attorneys
Peter Bradie
Bradie, Bradie & Bradie
Re: Terminate an investor
Depends upon the nature of the investment. Was it a loan, or buying an equity position in the company. If the latter, he's a part owner and will remain so until you buy him out.
If the former, it depends upon the loan agreement.
Answered on 12/20/05, 10:44 am
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